The government has certified for green lane processing P4.4 trillion worth of projects, according to Secretary Frederick Go of the Office Special Assistant to the President for Investment and Economic Affairs (OSAPIEA).
In a speech read by OSAPIEA assistant secretary
Kristine Joy Diaz-Teston at the Pilipinas Conference, Go said as of October 15, the government has already green lane certified 162 projects across critical sectors like renewable energy, digital infrastructure, food security and manufacturing.
Data from the Board of Investments showed, bulk of the projects are in renewable energy with 131 projects with a project cost of P4 trillion. This was followed by digital infrastructure, 6 projects worth P346.33 billion; food security, 22 projects valued at P14 billion and; manufacturing, three projects, P32.55 billion.
Of the P4.4 trillion projects, foreign equity was at P1.63 trillion.
The green lane for strategic investments, Go said, is one of the initiatives taken to create a favorable business climate in the country.
He said the green lane aims to support landmark legislations that have liberalized various sectors, including renewable energy, retail, air transport, shipping, tall roads and telecommunications, among others.
“The administration is creating a favorable business climate for investments to thrive, which also involves implementing initiatives that contribute to infrastructure development,” Go said.
Go said the government is committed to harnessing the private sector to transform the economy to an investment-led one.
“Our policy framework for FDIs (foreign direct investments) is the most open and most liberal it has ever been,” he added.
As part of streamlining procedures for investments, Executive Order No. 32 was issued to simplify processing of permits for telecommunications and internet infrastructure.
Another measure is the ease of paying taxes law modern modernizing tax administration while promoting taxpayers rights and welfare.
